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8 Ways to Boost Your Home Value (for Less Than You Think)

By early next year, Americans will spend nearly $320 billion on home improvement, with many of those dollars aimed at increasing resale value. But why spend money on your home when it’s too late to actually enjoy those upgrades yourself?

According to the 2017 Cost vs. Value Report from Remodeling Magazine, a few select projects can increase your home value by a lot compared to their cost. So you can do them now, not later, with less stress.

Here are eight top projects that pay back in resale value — along with unique Thumbtack data on the cost of a quick fix instead of a total overhaul.

Attic Insulation

If you had to pick just one home improvement project, upgrading your insulation would be your best bet. It’s the only project that actually pays for itself (and then some) — and it’s relatively affordable to begin with.

The national average cost for new attic insulation is $1,343, and the resale value is $1,446, which means homeowners make back an average of $100 when selling. Plus, a properly insulated attic can shave 10 to 50 percent off your heating bill and keep your home cooler in the summer.

New Entry Door

A great front door should be more than nice to look at — it should also protect against the elements (and intruders).

While the national average to replace an entry door is about $1,400, the resale value is around $1,300, which means you’ll recoup about 90 percent of your costs. If you’ve already purchased the door you want replaced, Thumbtack data shows that it costs $215 on average to get the work done.

Stone Veneer

Manufactured stone veneer is more popular than ever because it’s an affordable way to add curb appeal to a home. It’s more cost effective than natural stone, it adds visual interest, and it complements the landscape.

The national average for parts and labor is about $7,850 and the resale value is around $7,000, so you’ll get back as much as 89 percent of your investment when you’re ready to sell.

Garage Door Replacement

Today’s garage doors are much stronger, more secure,and better insulated than doors built as recently as 15 years ago. A new door will work better and make the outside of your house look nicer.

The national average to replace a garage door is between about $1,750 (midrange) and $3,300 (upscale), while the resale value is anywhere from $1,345 to $2,810. Most people get back 77 to 85 percent of what they paid in resale value.

Minor Kitchen Remodel

A new kitchen is usually near the top of a homeowner’s wish list — but a remodel could entail as much as your imagination (and budget) allows. Here, we’re talking about small upgrades, like redoing your cabinets, replacing countertops, installing a new sink, repainting, and replacing flooring that make a big difference in your home’s value.

Remodeling Magazineestimates these kinds of updates will cost around $21,000 with a resale value add of about $16,700 on average, so you’ll make back about 80 percent of what you spent for the upgrade.

Kitchen remodels typically involve several different pros, but the first person you’ll want to find is the contractor who’s going to help you see the job through from start to finish.

Window Replacement

Like upgrading your insulation, replacing your windows doesn’t just improve your resale value in the long run: it also lowers your energy bills in the short term.

Whether you prefer vinyl or wood windows, you’ll get about 73 percent back of what you spent to replace them. Vinyl windows cost about $15,300 on average with a resale value of $11,300, while new wooden windows cost around $18,760 with a resale value of about $13,700.

Deck Addition

There’s a reason decks were last year’s most popular home improvement project. A deck is a great place to relax and entertain, adds a ton of resale value, and can be improved and maintained with minimal intrusion into your life.

But here’s the secret to getting more value from your deck: build from wood, not composite. You’ll get back almost 72 percent of what you spend for the upgrade with wood, compared with only about 65 percent for composite. Plus, composite decks are more expensive overall with an average cost of more than $17,000, compared with just under $11,000 for a wooden deck.

Roof Replacement

If your roof is older than 20 years, it may very well be time to replace it, even if it’s not showing signs of failure. (In fact, waiting too long to replace a roof can end up being more expensive down the road.)

The good news is that it’s also a good investment: you’ll get back about 69 percent in resale value what you’ll pay for the replacement. It costs about $21,000 on average nationally to replace an entire roof, with a resale value boost of around $14,200.

Last summer we added a deck to our backyard and love it. Definitely recommend building a deck if you don’t have one and are looking to add value to your home. It makes enjoying the outdoors so much easier!

Carolyn Davis

How much to replace approx 16 ft. of a fence that is down on the ground? Would like some advice thanks

Jo

Check with Home Depot. They contracted out a new fence for me which was reasonable and well installed. I have totally switched from Lowes after a fiasco with blinds. HD also installed great Anderson storm doors for me.
Highly recommend them for my future projects.

Dan

I’d like to read some ideas for those of us who own a condo — lots of us out here!

chacha711

Always get a minimum of 3-4 FREE Bids/estimates preferably from licsensed contracts for larger/more difficult jobs, the middle-range bid is usually the best n is always negotiable before you gree to terms/signed contract. FYI, BEWARE, Home Depot, Lowes,, Thumbtack, Home Advisor Services etc usually charge the contractor a finders referral/leads fee, thus they usually pass this fee/cost on to the hiring customer/you, usually resulting in approx 10-20% higher bids/estimates for their/your jobs! I myself n younhave the option to do your own search via YELP, GOOGLE, BBB, State Contractors Licsense Board,mWhse/Retail Suppliers, friends n/or business associates! GOODLUCK!!!

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